Bridges Investment Management Inc. trimmed its position in Intercontinental Exchange Inc (NYSE:ICE) by 41.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,986 shares of the financial services provider’s stock after selling 8,429 shares during the quarter. Bridges Investment Management Inc.’s holdings in Intercontinental Exchange were worth $1,108,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ICE. State Street Corp boosted its stake in Intercontinental Exchange by 0.3% in the 4th quarter. State Street Corp now owns 24,518,530 shares of the financial services provider’s stock worth $2,269,190,000 after purchasing an additional 85,241 shares during the period. Goldman Sachs Group Inc. lifted its position in Intercontinental Exchange by 7.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,896,539 shares of the financial services provider’s stock worth $638,275,000 after buying an additional 466,102 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Intercontinental Exchange by 12.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,534,983 shares of the financial services provider’s stock worth $512,263,000 after buying an additional 632,387 shares during the last quarter. GQG Partners LLC lifted its position in Intercontinental Exchange by 17.7% in the fourth quarter. GQG Partners LLC now owns 3,991,356 shares of the financial services provider’s stock worth $369,553,000 after buying an additional 600,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Intercontinental Exchange by 5.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,778,818 shares of the financial services provider’s stock worth $349,730,000 after buying an additional 203,918 shares during the last quarter. 89.85% of the stock is owned by institutional investors.
Shares of NYSE ICE opened at $74.52 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $40.77 billion, a PE ratio of 21.73, a P/E/G ratio of 1.80 and a beta of 0.43. The business has a 50-day simple moving average of $88.85 and a two-hundred day simple moving average of $92.44. Intercontinental Exchange Inc has a fifty-two week low of $63.51 and a fifty-two week high of $101.93.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 6th. The financial services provider reported $0.95 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.95. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. Intercontinental Exchange had a return on equity of 12.77% and a net margin of 29.52%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, sell-side analysts predict that Intercontinental Exchange Inc will post 4.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, December 15th. Intercontinental Exchange’s dividend payout ratio is currently 30.93%.
In other news, CEO Jeffrey C. Sprecher sold 37,232 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $93.89, for a total value of $3,495,712.48. Following the completion of the sale, the chief executive officer now directly owns 1,496,000 shares in the company, valued at $140,459,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $92.66, for a total value of $8,339,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 349,409 shares of company stock valued at $31,483,557. 1.50% of the stock is owned by company insiders.
A number of research firms have weighed in on ICE. Bank of America reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday. Goldman Sachs Group upgraded Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating and set a $90.00 target price on the stock in a research note on Tuesday. Credit Suisse Group started coverage on Intercontinental Exchange in a research note on Monday, December 16th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $105.00 price target on the stock. in a research note on Thursday, March 5th. Finally, Deutsche Bank raised their price target on Intercontinental Exchange from $109.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $100.64.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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